Bitcoin Forum

In Indonesia, the dollar rises while the Rupiah weakens, if the dollar rises why Bitcoin Prices do not rise.

Look: The dollar is rising, in Indonesia it can't overcome the problem of a stable dollar, now in Indonesia is experiencing Chaos, many people and even Students are Demonstrating against the Government, so that the dollar price cannot go down,

What about the economic fate in Indonesia, will it continue to experience chaos?

I think that not only Indonesia's currency is weakening, but there are so much countries which currency is weakening, it is caused by the US and Chinese trade war is heating up again, many countries become victims from the impact of that trade war

if i'm not mistaken that Argentina and Malaysia also have the same problem such as Indonesia that their local currency was weaken by dollar but bitcoin price not depending on dollar movement price and it caused by crypto market situations which is not related to economy from other countries so if you're comparing between dollar risses related to crypto market i think you're wrong

why is bitcoin price not going up? even though the dollar price rises, this is because the price of bitcoin does not refer to the dollar price, and I think Indonesia will go through a crisis like this, because Indonesia has experienced similar things a few years back and passed safely

So as other South American and other Asian nation as well. But I don't know if the OP relates to crypto as a leverage for this economic disaster. Being a Asian, I just do hope that nothing significant will happen in Indonesia though, I don't want to see another neighbour getting in a economic downfall. If Indonesian wanted to have a hedge then they can probably shift their fiat to bitcoin/crypto and see how this pan out for them.

Well you're country is not alone on with this even here in the Philippines dollar currency has gone strong and Philippine Peso had weaken also. The inflation rate has risen which made the economy of the Philippines weaken and that market price for the basic commodities has risen. The purchasing power of PESO had gone weak.

It is not only in Indonesia, but also in many countries that inflation and the local currency is overwhelmed by dollars. I think economic stability on Indonesia is still in tact, it's just their currency got weaker than dollars was.

Dollar rising not only happen in Indonesia but in the majority of countries in the world. Its due to the US-China trade war that makes it happen.

What chaos? everything just doing fine, it's just the tense that rise due to the politic selection that would happen in 2019. Afterall Indonesia government just doing a good job adapting to the trade war.

When you put your fate in the hands of this kind of people....

https://www.channelnewsasia.com/news/asia/dozens-of-ex-graft-convicts-to-run-in-indonesia-elections-10746078


bitcoin, crypto, not even Allah is going to be able to help you out.


Because the situation in Indonesia is irrelevant both to the global economy and to bitcoin prices and it's not going to be influenced by the fall of the Turkish lira or the Indonesian rupiah. Bitcoin acts just like other commodities, do you see a spike in oil, gold or milk because of the situation in Indonesia?


 

You must never make false news, I am an Indonesian, until now the economy in the country of Indonesia is fine, there is no chaos, those who create chaos because they do not want Indonesia to calm down, please do not equate bitcoin with usd, why do people think that the dollar goes up bitcoin must go up? USD prices have risen altogether not being a driving force for bitcoin to rise in price

If you are indeed an Indonesian, I am also an Indonesian, do you know that the dollar is rising and Indonesia's currency is experiencing weakness, some media are spreading the news that there are many demonstrations in Indonesia.
They want the dollar to be lowered because it affects the economy in Indonesia.
Source:
http://video.tribunnews.com/view/61484/desak-pemerintah-untuk-menstabilkan-nilai-rupiah-terhadap-dollar-mahasiswa-demo-ke-dprd-kalsel

Nobody wants this trade war to continue, I think all countries are wise to make Decisions, see the Dollar rise, does anyone have an alternative so that we can all get away from a weak economy?

I believe this is a worldwide effect while america is doing better regarding economy

Because in philippines dollar is also growing high while the philippine peso is dropping

Lets pray that this will not continue as the  people of each country  will suffer from this while the US will rejoice

I compared the dollar to crypto, because the price of crypto dropped, if you thought I was wrong in interpreting it, what do you think about the weakening of the crypto market right now?
why do you say that the crypto market is not related to dollars?

dont look only in indonesia rupiah rate, but you should look at macro economic condition.and the thing you should to know, its not only happen to indonesia.but much country have same condition with their currency.i think you should learn about macro economic, geopolitic to understand it.

Unfortunately, in some countries there will be sadness, while countries that have dollars have fun, other countries scream because of the economic difficulties they are experiencing, will this continue, the country that has the dollar is the Ruler.

Indonesia's economic conditions when the dollar rose in Indonesia, caused the Indonesian economy to become stagnant or hampered. This condition is exacerbated by the continued weakening of consumption. The Indonesian economy is basically quite good, but the problem comes from the incentives for the economy that must be boosted.

i hear some student in a few country already demonstrate,all of them want president must be change,because he cant make economic better,but i think one of trouble why dollar rises and rupiah weakens are many ppl use import stuff,because import stuff make price with dollar and we must exchange rupiah to dollar for buy it,and we will get economy rule demand and supply,i think the solution is,we must reduce import for raises rupiah,start for love our product,and give our scientist some money for make great stuff for make this nation great again.

In my opinion, the economic conditions in Indonesia are still stable, I am an Indonesian and not this time alone Indonesia has received the impact of the rising dollar and proved that Indonesia is able to get through this. Indonesia will be fine.

Actually it's not only in Indonesia. Rising impact of dollars also happen in some countries that caused by economic war among AS and China. It's not really chaotic, because indonesia people are concerned to another event like election. So, the chaos you said will no longer be an obstacle for Indonesia to improve.

bitcoin does not refer to dollar prices, but the rise in the dollar not only affects Indonesia but also other countries in the world.
The weakening of the rupiah against the US dollar was the impact of external factors, namely the strengthening of the US dollar, rising interest rates on US Treasury bonds — US treasury — above 3 percent, and market anticipation of a possible increase in the Fed Fund Rate interest rate. reference to the Central Bank of the United States. Moreover, most of the foreign debt carried out by the government and the private sector is in the form of US dollars. The weakening of the rupiah has pushed up demand prices because it can affect people's purchasing power.
However, I think Indonesia will be able to survive this situation.

When we compare two currencies then it is easily understand and i think that it is because of the Dollar which is the international currency people are using it for many ways and if it is rise in Indonesia and it is also in our country because our currency is devalue as compared to Dollar while in future many industries will realize that Dollar functions can perform by Crypto as well.

haha I think you are overreacting in responding to the dollar problem in our country, remember ??? The dollar rose because of the effects of the trade war of two world economic giants namely the USA and China, both dollars rose because American investors pulled their dollars from each country to return to America because of the dollar printing policy in 2009 by central American banks (CMIIW )
and our country is fine, be a critical person but remain intelligent in criticizing

The US dollar is the base currency of the world, it doesn't increase or decrease in value against other fiat currencies. It's pretty much the same with how Bitcoin is the base currency in the crypto world. Bitcoin's BTC value doesn't increase or decrease either, the other currencies do.

The point is that as long as we believe that something is a base currency, the underlying economy or network in Bitcoin's case doesn't necessarily have to perform well. People for once just need to stop saving up their entire net worth in one specific fiat currency. It has always resulted in problems during bad economical times, so why are most people still not taking the necessary actions by hedging their native fiat currency?

This is one of the main reasons why the gap between rich and poor keeps growing larger. They don't act but just complain about governments and wait for them to force through improvements, which will never happen. Get off that lazy ass and stop playing victim.

You're considering 3 separately priced things. Just because the price of one falls against the other does not mean that it will also fall versus the 3rd option. There are a few scenarios in which the dollar can appreciate against the rupiah (all examples will be in absolute terms):

Dollar value increases, rupiah value increases, but dollar increase outweighs that of rupiah.
Dollar value increases, rupiah value stays the same.
Dollar increases, rupiah falls.
Dollar stays the same, rupiah falls.
Dollar falls, rupiah falls but dollar falls less than rupiah does.

From this you can see that in scenario 1 rupiah value can increase so if BTC value remained static the rupiah would appreciate versus the dollar. This is also excluding any scenarios in which BTC value falls.

Yes, in Indonesia, the dollar rose while the rupiah weakened. Most likely, the rupiah will continue to weaken, and investors will continue to put an eye on the currencies of developing countries like Indonesia.

But, even though the Rupiah continues to weaken, it does not mean that Indonesia will experience a financial crisis again. Even when the rupiah approached its lowest point in the past two decades, it is important to remember that the current economic foundation of Indonesia is very different compared to Indonesia's economic conditions when the financial crisis occurred in 1998.

When we compare the two currencies until the end it's easy to understand everything and for me it's a dollar so the reason for which people's money is being used for them all the way and if it is rising in Indonesia and is also the same in our country because our country's currency will be depreciated against a Dollar while going into the future so many industries know that Dollar actions can create a Crypto.

Maybe raises of USD value will be effect for local money will be drop and have more effect for economic country faced crisis, just hope usd value could crash and make IDR more higher price and could help how drop of economic value.

and also Indonesia's economy minister, said that downturn was still at a safe level. besides that, hopefully politics in Indonesia runs smoothly so that it will maintain the stability of idr

I think it's not only Indonesia but there are some countries that have problems like Indonesia Hopefully our country does not experience a crisis like in the past and it is true that the pressure on the dollar will have a bad impact on our country.

Yes dollar price is not related to bitcoin price. I also worried if dollar price continue rising it will make the economy of Indonesia worsen. In a few years dollar price in Indonesia is continue to increase and this year is the worst year. Many company bankrupt and it make the number unemployment growing.

If you say that the dollar can work with Crypto, does Crypto have a relationship with the dollar?
And why doesn't Crypto rise if the dollar rises?
This question is strange, but research also needs to be done so that Crypto is exactly the same as the dollar.

This is very sad in my country, there are so many things that cause unemployment because of the rising dollar, but I am still grateful that I still have a job in the Crypto world, with this job I can fulfill my daily needs, how about you?

If dollars is indeed rising, it won't pick just one country to decide to rise rather, it would rise in all the countries in which its a major currency which means the world as it is the widely acceptable currency of transaction in the international market. What is really happening is the Indonesian local currency that is falling and if you take a look at the study very well, it is not only dollar that would be " rising" but every international currency that is predominant in that country and most likely at the same rate in other to forestall a situation of currency arbitrage. So the government over there should get their acts together.

On bitcoin, the 0.01btc would still remain 0.01btc whether dollar rises or not. Where it would be obvious bitcoin price is increasing is if one wants to convert to Rupiah. You would then realise that more rupiah would then be available compared to what was obtainable when the currency was stable. The economic fate of Indonesia would not always be in chaos as its a phase that would soon pass no matter how difficult it for them. Several countries have gone through worse and they came back strong.

There is no future of dollar.  Everything has the end and soon dollar will be close to its end and it will be replaced by the crypto market.

Well all of the countries has its own reason why dollar increases but most probably the core reason why this happen is because the US government had established already a strong economic and that includes their new development on industry that creates more job for them.

Even if you are an Indonesian you still could not represent that your country is doing fine since the people should be the one to say that there is really something problem with your economy and for that the mostly affected are the poor.

Normally Indonesia is one of the country where most of the government officials and the politicians were corrupted so if that means the inflation will happen slowly when the time increases and also the price increase of crude oil in the international market also causing the price fall of local currencies in many countries.But once the price fell then it may hard to recover so it will be their fate unless their governments needs to take some measures to control corruption in their country.

I don't know how young are you, but I have seen worst economic situations in my country that even topple a dictatorship. Worst, after 30 years, the country is still in financial crisis and dollars per local fiat is rising.

I can't say what would be the economic fate of Indonesia because as neighbor nations, I wish that everything will not be in chaos (might be a coup-d-etat, new government form but then the problem still persists), and I guess the sitting government should do everything at their power to avert another financial crisis. If your question is, will this affect crypto? I will say no, it wouldn't put a significant dent on the price, but Indonesians can run to crypto to leverage their wealth until the government find a way to prevent the disaster.

Inflation has caused the dollar price to rise and the government continually prints money to balance the economy. This is a repeat of many years of developing countries and Indonesia is among those countries.

I really agree with your words, maybe a reasonable alternative if they ran to crypto to reduce the disaster experienced in Indonesia today.
Because using crypto is very helpful for the economy in Indonesia, especially those who have a low economy.

i think we are helped now because crypto campaign, so that with us joining, it will get a lot of money. and for the cryptocurreny, i think the government has given a signal even though it has not decided yet

Yes almost all country become the victims, its just dollars that get stronger and i do think it also makes bitcoin become weak, and people choose to invest and hold dollar rather than cryptocurrency.

The animal feed industry is a component of 75-80% (imports). One example of the most affected raw material is soybean meal, it is imported from Argentina and Brazil. This commodity is not only affected because of the rising dollar but also the international market also rises, so this has fallen down the stairs

not only in Indonesia, which experienced the chaos of the dollar increase, some countries also experienced the same thing and for the price of bitcoin itself does not depend on the dollar even though the dollar price rises, because the price of bitcoin does not refer to the dollar price

Bitcoin automatically increases in Indonesia by that logic, it means even if bitcoin stands stills, Indonesian person will have profits and make money from the increase in the dollar value.

Same happened in Venezuela and turkey as well, those people who kept bitcoin made profit thanks to dollar increasing in price, keeping bitcoin helps in those cases as well and cashing it out is a lot easier than cashing out dollar in places like that because governmental regulations but when you have bitcoin that means you can cash it out in one way or another at worst you can cash it from OTC prices.

The fact that the dollar is growing,will not affect the economy of Indonesia.Indonesians now you should think about purchasing bitcoins.

We know that the price of bitcoin in terms of fiat is mostly denominated in US dollars so if as you say the dollar is raising against the local currency of Indonesia then the price of bitcoin is rising as well, I do not know the precise conditions in Indonesia but it's likely that something similar to what happens in other countries could happen there as well, the dollars are going to become more difficult to get and people are going to try other ways of preserving their wealth including bitcoin and that will make the price to go up.

As long as the Indonesia government can control the economy and they always thinking about solving the problem, I believe their people can accept this. We know that not just Indonesia that get this problem but the other country is also the same problem, and I think every state still trying to solve the problem by doing many things especially to survive in the hard situations. I don't believe that it will continue to the chaos situations because so far, the Indonesian government still trying to push the Rupiah not to rise too high.

;D ;D How could the Indonesian government legalize Crypto, of course in Indonesia it still uses official currency that already has a legal basis, last year the government did not legalize crypto, because the basis for using crypto currency was not in government law.
But to help Indonesians use crypto secretly without being noticed by the Indonesian government, it would be better, yes, this is very helpful to continue their economic needs.

There are so many countries out there having this issue and certainly not only Indonesia. They always say in my country that when two elephants are fighting, the grasses will always be the ones to suffer it. This is one thing that the trade war between two giant countries can bring about.

However, I really do not see how this should be a problem for those who are smart, and they should always know better how to hedge their funds to at least retain its value for such occasions arising, but people just never learn except to complain over things they can change rather than waiting for their government.

The only relationship crypto has with the dollar is if you only want to tag it with the dollar and being a decentralized space, it is going to be hard for any centralized currency to have a strong hold on the crypto space. Secondly, there is no amount of research that can be done which will make crypto the same as dollar.

I guess you are really mixing a lot of things up here and you still have so much to learn about the cryptocurrency space. This is a decentralized space; Fiat is another space on its own which is centralized, so they are totally not in the same category of currencies.

Actually countries like Indonesia are passing through the weak financial condition in the history. Unlike Malaysia-which is progressing at an accelerated pace-Indonesia due to weak institutions and corrupt mafia has suffered a lot and this is the reason of sanctions been imposed on them.

As a result the value of the national currency that is Indonesian Rupiah went down thereby rising the value of dollar. This can be resolved if the country reduces its imports, produce more and more within its geographical boundaries and export more.

right, but the problem is not that easy to reduce import of materials that are needed every day. like for example soybeans, every day we eat tempeh. i think this requires awareness from all people to reduce their consumption

Yes, you are right, import needs are also very needed from several countries, because every country will need it according to the needs that are not available in their respective countries.

The price of dollar and the price of bitcoin doesn't related at all, each of them got their own market, so the rising or falling of dollar wont have any effect on crypto, and the government need to do something to strengthen the economic, as citizen we can help by reducing import items, but not many people care about the situation, most of the people see this as an opportunity to earn and that makes the situation become worse

Bitcoin is not the magic pill to every problem in the world. Do you think the people native to Indonesia are rich enough to buy bitcoins? Because if you calculate the average earning of a middle class family then you will notice that they are not in a position for buying any crypto without months of saving and if they do that think of what will happen to their daily spending for daily necessities.

The fact that such problems arise can be blamed to the government. Only they can control the law and order and money laundering - but they wont because they are themselves involved in it. Mostly the mafia running every country in the world the governments are just pawns in their hands.

indeed some people seek personal gain, not all have the spirit of nationalism. with clean governance, i think this can be overcome by taking steps as you mentioned, so that the country's economy can improve

Although the value of the rupiah against the dollar fell, the economy in Indonesia continued to grow by 5.2 percent, said the finance minister in Indonesia. in my opinion, the value of the rupiah plummeted will affect the trade sector, especially goods imported. traders will need large capital to run their business. and the price of fuel oil will increase, so that the price of food needs will increase. so the cost of living for the community will increase.

Now in many countries of the world the national currency against the dollar is weakening. I think against this background, in these countries, American capital will flow into the economies of these countries.

bitcoin price depend by demand's people. if dollar's price rise, im not sure bitcoin in Indonesia will rise too.
for the economy is about how government control their economy, its not about how bitcoin effect for that country. some people will say that he is find thought dollar value is increase, just lower class society can feel it

Because the price of bitcoin does not refer to the dollar price, I agree to say that the dollar market and the bitcoin market are different, so that when the dollar price rises it does not affect the price of bitcoin and vice versa.
Indonesia has experienced economic chaos a few years ago, I think Indonesia will be able to pass it.

it is funny how the mass media can lead to public opinion which is supported by laziness to research further until it is easy to say "Indonesia is experiencing Chaos" even though only student demonstrations which are natural things in countries that adopt democracy and not that is it? I think a number of factors including their economy in fact are still strong to withstand the strengthening of the USD, currently unlike 1998.

I agree this might be the cause of all these problems. Even in the Philippines things are getting priced up. The dollar has gone up. We all hope things should go normal again, but think of it as a great time to invest. Aim for the dollars!

Its not just the Indonesia but India as well where surprisingly the fiat currency is also called as Rupee. (Pretty similar to the Indonesia). This is also causing huge impact on the Oil, Gas, Petroleum prices within the nation and they are rising day by day. If the situation is continued then soon the country will fall for the economic stress and may see bad days coming up ahead. Indonesia might be similar in condition right now as of India where other stuff will get costlier so that government can help reduce their stress over the overdue or whatever interests that they may have to repay.  >:(

as few people have already mentioned in this thread that is due to trade war between china and us. Unfortunately, this trade will continue for decades from now. Although it may seem that bitcoin is not profiting from it, you will be very surprised in coming months when people start using bitcoin as safe heaven. when market gets riskier which it will then bitcoin will rise and rise it will.

I am an Indonesian, the price of the rupiah has indeed weakened here, and the value of the dollar has risen high. But what do you say, here you experience chaos? That is not true !!! Indonesia is a big country, rising dollar prices are not a problem for us. And the people who are being demonstrated against the government are people who are not happy with the government here.

yes, whatever issues in Indonesia are used as political commodities, everything looks dirty. this is part of the challenge of democracy in Indonesia.
The weakening rupiah was the impact of the trade wars between China and the US and all countries felt the same impact.

At the end, all that would be based on the information that the rich will always have and the poor will never have, probably based on awareness or accessibility to it. People have always tend to focus so much on what the government is not doing over the years and keep whining rather than taking control of the way things should be like for themselves but like I said, I would say people tend not to seek for answers and solution to things, but rather uses complaints to remain in one stagnating position over time.

Strange question.. Do you really think that btc price is bound solely to USD exchange rate in Indonesia?

Sorry to hear that Indonesia is experiencing chaos. When the national currency in my country dropped 3 times relatively to dollar several years ago we also faced so many problems that the existence of the country itself was doubted.

Don't really understand why'd economy in my country was so bad nowadays, beside our tourism is still normal.Well, I was had a doubt with the government currently, and we as the society has nothing to do with it, we cannot help.

I think it has nothing to do with the price of cryptocurrency with my currency denominated and this is only an internal problem with the government and we don't need to discuss such a thing because the government already has its own solution

Well, if you have something you are doing for yourself and you have something you can always fall back on, then, that is good for you. Whichever way at times like this and in the situations of Indonesia, people will always look for a way to fall in a market that is rising, and as much as there is a lot of pressure on the USD in that country, there will always be occasions like this.

It is not new, but if the government can really get their acts back together like audacious being said, they would eventually find a way to come back stronger.

Usually the price movement of dollar affects the global trade war. But in this scenario. Indonesia will follow the step of Argentina with the flock of their currency, governments should avoid taxes to their citizens. Though nitcoin has a stable price right now and hoping that the global currency will jump in.

hey bro, choose prabowo hahaha
Economic fluctuations in Indonesia experience chaos because Indonesia is experiencing a weakening in world trade. The weakening of Indonesian trade is not systemic, and bitcoin is an outside platform of the world legal trading system, dont forget choose prabowo  :D :D :D